FTSE 250 movers: Property stocks hammered; easyJet flies higher

FTSE 250 (MCX) 18,851.18 -1.84%

Housebuilders and property developer stocks were out of fashion after UK jobs and wage data suggested that domestic interest rates may not be cut as early as traders hoped.

According to data from the Office for National Statistics, the UK unemployment rate eased at the end of last year, while average earnings continued to rise.

The unemployment rate was 3.8% for those aged 16 and over in the three months to December. That was down on November’s rate of 4.2% and below consensus for 4.0%.

Wage growth beat forecasts. Annual growth in employees’ average regular earnings, excluding bonuses, was 6.2%, in contrast to consensus for 6.0%. Including bonuses, wages grew by 5.8%.

Crest Nicholson, Redrow, Shaftesbury Capital, UK Commercial Property Reit and Tritax Eurobox all fell on the news.

EasyJet flew higher as holiday company Tui reported stellar first quarter results on the back of strong demand.

Market Movers

FTSE 250 - Risers

Apax Global Alpha Limited (APAX) 157.00p 1.42%
Auction Technology Group (ATG) 563.00p 1.26%
easyJet (EZJ) 551.00p 0.77%
JPMorgan Japanese Inv Trust (JFJ) 509.00p 0.59%
Plus500 Ltd (DI) (PLUS) 1,801.00p 0.45%
PPHE Hotel Group Ltd (PPH) 1,220.00p 0.41%
Baillie Gifford Japan Trust (BGFD) 741.00p 0.27%
Barr (A.G.) (BAG) 533.00p 0.19%
Balanced Commercial Property Trust Limited (BCPT) 78.10p 0.13%
Petershill Partners (PHLL) 169.20p 0.12%

FTSE 250 - Fallers

Close Brothers Group (CBG) 394.60p -7.24%
W.A.G Payment Solutions (WPS) 82.80p -5.91%
Crest Nicholson Holdings (CRST) 213.60p -5.49%
Tritax Eurobox (GBP) (EBOX) 47.80p -4.40%
UK Commercial Property Reit Limited (UKCM) 64.40p -4.31%
Shaftesbury Capital (SHC) 127.30p -4.29%
Genuit Group (GEN) 392.50p -4.27%
Redrow (RDW) 652.50p -4.19%
Abrdn (ABDN) 158.45p -4.17%
Target Healthcare Reit Ltd (THRL) 78.70p -4.14%